Peleton ($PTON@US) shares fell more than 17 percent in premarket trading on Thursday as it posted a wider-than-expected loss for its fiscal first quarter. Revenue fell 23 percent compared with the same period last year, and its revenue is $616.5 million versus the $650.1 million expected. As of Wednesday’s close, Peloton’s stock has dropped 75 percent so far this year. The company has been struggling with low demand in the post-pandemic market, and it has shifted from a direct-to-consumer model to a model that emphasizes subscriptions.